Lagos Settles N1.51bn Accrued Pension Rights in its 69th Retirement Benefit Bond Certificate Presentation. – PensionNigeria

Lagos Settles N1.51bn Accrued Pension Rights in its 69th Retirement Benefit Bond Certificate Presentation.

Lagos State Government (LASG) on Wednesday said it had paid Accrued Pension Rights of N1.514 billion into the Retirement Savings Accounts of 426 retirees from the State’s Public Service.

Mrs Folashade Onanuga, the Director-General of the commission, disclosed this during the 69th Retirement Benefit Bond Certificate Presentation in Lagos.

Onanuga said Gov. Babajide Sanwo-Olu of Lagos State was committed to ensuring that retired workers received their pensions not later than two months after retirement.

“The current administration is committed to clearing the backlog, hence the payment of a huge amount of N1,514, 251,233.33 into the RSAs of 426 retirees for the month of November. ”In October, a total of N1.15 billion was paid and in December, a projected amount of N1.5 billion will also be paid, ” she said.

According to Onanuga, the governor particularly has the interests of the retirees at heart, hence, his consistent approvals of billions of naira to clear the outstanding accrued pension rights.

The Director-General thanked the retirees for contributing their quota to the development of the state and making a meaningful impact during their service years.

Onanuga, however, advised the retirees to be moderate in whatever they would do to enable them leave a healthier and longer life.

She also said that the state government was planning to start its proposed free health care and transportation services for pensioners in the first quarter of the Year 2020.

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